1. Field of the Invention
The present invention relates generally to an improved data processing system, and in particular, to a computer implemented method for managing information about products in a supply chain. Still more particularly, the present invention relates to a computer implemented method, system, and computer usable program code for mitigating the distribution and consumption of counterfeit products.
2. Description of the Related Art
Today, distribution and selling of counterfeit products has become a significant problem in the global marketplace. Almost every country, every region, every industry suffers some loss due to the presence of counterfeit products along with the original products.
An original product is a product distributed, sold, or consumed according to the instructions of the rightful manufacturer of the product. A counterfeit product is a product that is not an original product. For example, a product that is a copy or a replica of an original product, intended for distribution, sale, or consumption as the original product, without the authorization of the manufacturer of the original product, is a counterfeit product. As another example, an original product that is distributed, sold, or consumed outside a date range or time period suggested by the manufacturer of the original product may also be considered a counterfeit product.
Some anti-counterfeit solutions currently exist in the market. However, none of these solutions provide a robust enough method to reduce or eliminate the distribution and selling of counterfeit products. The adverse effects of counterfeit products are diverse and far-reaching. For example, the pharmaceutical industry is one of the most widely affected industries when it comes to counterfeit products. Both the developed and the developing countries are suffering from counterfeit drugs that harm the health of the people, infringe upon the rights of the pharmaceutical companies, and violate the laws of sovereign nations and states.
As another example, nearly forty percent of consumer package goods (CPG) sold around the world are regarded as counterfeit for one reason or another. As another example, the Automobile Manufacturers Association indicates that counterfeit auto parts are a twelve billion dollar problem globally, causing a loss of approximately three billion dollars in the United States alone.
The list of counterfeit products is ever growing. Some of the product types that are most susceptible to counterfeiting include pharmaceuticals, CPG, Apparels, automotive parts, electronics and electrical equipment, beverages and tobacco products, toys, baby food, construction materials, agricultural products, and food products.
The effects of counterfeiting can be direct or indirect. For example, health problems, harm to equipment, loss of goodwill, and loss of revenue are some of the direct problems associated with counterfeiting. Local and global economic crisis, child labor, and violation of human rights are some of the indirect consequences of counterfeiting.